ISLAMABAD: The Pakistan Post Saturday launched the export parcel service `EMS Plus’ for small traders to deliver their consignments in foreign countries within 72 hours at minimum rates.
Minister for Communications and Postal Services Murad Saeed formally inaugurated the service in a ceremony here at the Pakistan Post head office. Special Assistant to the Prime Minister on Media Affairs Iftikhar Durrani, Secretary Postal Services Pir Baksh Khan Jamali and Director General of Pakistan Post Naseer Ahmed Khan were also present on the occasion.
Speaking on the occasion, the minister said Pakistan had got an honest leader in the person of Prime Minister Imran Khan and under his vision, the Pakistan Tehreek-e-Insaf government taking measures to make all the loss-making state institutions profit-generating organizations.
Similarly, he said, effective steps were being taken to steer the Pakistan Post out of losses and make it a profitable entity. The `EMS Plus’ was one of such measures which would help the organization earn income, he added. He said the service, which had been initially launched as a pilot project in the cities of Faisalabad, Sialkot, and Lahore, under which a parcel of up to 30 kilograms could be booked for six countries, including Saudi Arabia, the United Arab Emirates, Japan, the United Kingdom, Thailand, and Australia. The parcels would be shipped to the designated countries same day by air, he added.
Murad Saeed said the service would be extended to other foreign countries in the second phase likely next month. Initially, the services were to be launched for the entire world, however, due to some technical problems, it was started for six countries, he added.
The minister said advertisements would be floated in the newspapers during the current week to hire the services of courier companies in respective countries. Counters would be established at the airports with the deployment of the staff of Pakistan Post for timely dispatch of the consignments, he added.
He said the prime minister wanted a business-friendly environment in the country and his government was taking all possible steps for ease of doing business, particularly for small businessmen. The export parcel service was one of such steps and the Pakistan Post would come up to the expectations of the exporters.
He said there were two basic guarantees for the people to send their parcels through couriers, one was the timely delivery and the second of confidence and trust regarding its delivery to the consignee. The Pakistan Post being the official organization would ensure delivery of the parcels at the destination within 72 hours at the minimum charges, he added.
He urged the business community to prefer the ‘EMS Plus’ as it would cost them almost 175 percent less than the amount charged by private courier firms.
The minister said the Pakistan Post would soon offer its services for online shopping through its website as many multiple commodities had shown interest in selling their brands through it.
Pakistan’s economic condition has improved: Dr Reza Baqir
ISLAMABAD: State Bank of Pakistan Governor Dr Reza Baqir, while addressing a press conference here, has said that Pakistan’s economic condition was improving due to the positive policies taken by the government.
“Our external deficit and fiscal deficit are being addressed according to our economic plan,” he said, adding the government was striving hard to bring economic stability in the country.
He said that the government was taking measures to restore people’s confidence in the economy and added that Pakistan’s economic future was bright. In the past, government had been interfering in the exchange rate system, he added.
The SBP governor said that the burden of external debt payments reduced due to the devaluation of rupee. He said that exchange rate policy was the part of reform process. Baqir said that the government was not taking loan from SBP during the current fiscal year.
Earlier on June 14, good economic policies ensured a strong national economy, Prime Minister’s Adviser on Finance Abdul Hafeez Shaikh had said.
The adviser was addressing a gathering of the Council of Foreign Relations in Karachi. The governments in the past failed to devise the policies for lasting economic development, the finance adviser had said.
Nahakki Tunnel opened for traffic
ISLAMABAD: The 745-meter-long Nahakki Tunnel has been completed in Mohmand Agency.
The tunnel has been opened for all kinds of traffic as well. Locals talking to a private news channel said after the construction of the tunnel, traveling of five hours has been reduced to merely 2.5 hours.
People said they were happy with this infrastructure as it would facilitate them in traveling and save time.
Turkey hits out at Moody’s after credit rating cut
ANKARA: Turkey on Saturday lambasted Moody’s ratings agency after it cut Ankara’s credit rating further into junk territory, saying the downgrade raised concerns over the institution’s “objectivity and impartiality”.
The agency downgraded the long-term debt rating to B1 from Ba3 and said it maintained the negative outlook for Turkey, in a statement late Friday.
Although the country had a “large, diverse economy” and government debt was low, Moody’s said this was outweighed increasingly by “continued erosion in institutional strength and policy effectiveness on investor confidence”.
But the Turkish treasury and finance ministry said the move was “incompatible with the Turkish economy’s fundamental indicators”.
“As a result, this raises questions over the objectivity and impartiality of the body’s analyses,” the ministry added in a statement.
It pointed to rising tourism revenues, falling inflation, and a new judicial reform package as examples of “very positive developments that we sadly see are being ignored”.
The Turkish economy entered into recession for the first time in a decade last year following a currency crisis in the summer amid tensions with the United States.
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